Property division in a divorce: How transparent is your spouse?
Transparency is crucial to ensuring a smooth property division process during divorce, given that marital property is split equally in Louisiana. Therefore, you may be left short-changed if your spouse is less than forthcoming about financial matters. Picture your spouse withholding or manipulating financial information to suit their needs during the divorce process. It can...
Property division in a divorce: How transparent is your spouse? Continue reading…What is the purpose of a trust? 4 kinds of trusts
When making an estate plan, testators can draft their will. A will is a legal document that instructs how the testator wishes their assets to be handled after their passing and who should benefit from the estate. However, wills are vulnerable to probate, disputes and estate taxes. To avoid these issues, people can create trusts...
What is the purpose of a trust? 4 kinds of trusts Continue reading…Expenses may go up after divorce
When people get divorced, their income will often go down. For example, maybe both people worked, so they got used to living on two incomes. Getting divorced means that each person has to shift and begin living off of simply one income, which may be half as much money as they were used to before....
Expenses may go up after divorce Continue reading…What is a postnuptial agreement?
Most people are familiar with the idea of a prenuptial agreement. They may even know someone who negotiated a prenup during their engagement to reduce the financial risk that comes with marriage. However, postnuptial agreements are less common. Many people are unfamiliar with them even if they can likely guess about their use given their...
What is a postnuptial agreement? Continue reading…5 things your executor of the estate should know
An executor is a person who is responsible for administering the testator’s estate once they pass away. The executor of the estate is typically named in a will before the testator’s death. There’s a lot that an executor has to accomplish to settle an estate. It may behoove the testator to discuss certain matters with their executor....
5 things your executor of the estate should know Continue reading…Is your sibling acting as your parent’s gatekeeper?
Your only surviving parent has been in a slow decline for a while now, and they’ve gotten very fragile. Initially, you were grateful and relieved when one of your siblings decided to move in with your parent to help care for them in their final years. Now, you’re starting to wonder if your gratitude was...
Is your sibling acting as your parent’s gatekeeper? Continue reading…Does your family business need a succession plan?
One of the reasons people start a family business is to create a legacy for future generations. However, much of that legacy depends on how well you plan for your company’s continuation after you are gone. You don’t want your hard work to die with you, which is why succession planning is so important. What...
Does your family business need a succession plan? Continue reading…Can one spouse get the marital home in a Louisiana divorce?
Couples often struggle with the process of dividing their marital property. Each spouse may have their own opinion about what would be appropriate or fair, and they may have a hard time reaching a compromise that they both believe is reasonable. Most resources that couples obtain during the marriage are potentially subject to partition (division)...
Can one spouse get the marital home in a Louisiana divorce? Continue reading…Addressing your pets in your estate plan
Many Americans view pets as cherished members of their families. They provide them with love, care and attention throughout their lives, just as they would any other family member. Yet, many adults who care for pets in devoted ways don’t take time to consider what might happen to their dear companions in the event that...
Addressing your pets in your estate plan Continue reading…3 mistakes to avoid when drafting a prenup
A prenuptial (prenup) agreement allows soon-to-be-married couples to determine what will happen to their property should they get a divorce. Further, it encourages honest conversations about money from the word go and shields each party from the other’s debts. Couples should be careful when writing a prenup, as mistakes can invalidate the document and, in...
3 mistakes to avoid when drafting a prenup Continue reading…3 warning signs that undue influence has affected an estate plan
Adults in Louisiana have the right to put together estate plans that address their personal wishes for their care as they age and the distribution of their assets after they die. Families that have just lost a loved one are often grateful that the decedent had the foresight to put together documents outlining their wishes...
3 warning signs that undue influence has affected an estate plan Continue reading…Why are prenups increasingly popular?
Not so very long ago prenuptial agreements were broadly frowned upon. The concern was that if a couple was drawing up a document that would safeguard each individual’s interests in the event of divorce, there must be some significant doubt on the part of one or both members of that couple that the marriage would...
Why are prenups increasingly popular? Continue reading…